Priit Pekarev has been working at Holm Bank for two years as the head of private banking. This position allows Priit to initiate service developments that delight customers, direct sales that contribute to the company's success, and be a visionary that enables the bank to evolve at supersonic speed.
"I joined Holm because the bank was small but full of ambition to compete with today's top players. For me, this automatically meant that a lot of work and undoubtedly exciting moments lay ahead. I am driven by 'Mission Impossible' challenges and sincerely believe that there is no question or problem that cannot be solved," says Priit, who is innovative and assertive in his vision.
It's all about mindset
"In my actions, I always adhere to certain principles and try to understand the real purpose of activities. A simplified example - does a person need a drill, or a hole in the wall? And whether there is a need for a hole at all, or there could be a different solution... For me, there is a fundamental difference in approaching problems, and it is also the basis for modern innovation," Priit explains his mindset.
"When thinking about loan products, the customer's actual need is not the loan itself, but what can be done with the loan money. Applying for a loan is rather a tedious ancillary obligation that is not enjoyable on its own and ideally could be avoided altogether. Based on this principle, Holm Bank's products in the future could offer a completely seamless customer experience. Today, it is the regulatory requirements that banks adhere to that primarily prolong the customer journey. However, from a legal perspective, innovative solutions respecting regulations can be created, one must be clever," Priit elaborates.
Seamlessly Convenient Customer Journey
"In an ideal scenario, the customer's journey would unfold like this: you walk into a store, pick the desired item, open the Holm app, snap a photo of the product, take the purchase and walk out of the shop, with the payment already processed and transferred to the store owner's account," Priit envisions. "Or to take it a step further - why couldn't we have a feature on real estate platforms where I can filter properties that I can purchase with the assistance of Holm Bank? Once the decision to buy is made, it's just a matter of selecting a notary appointment," Priit lets his thoughts roam freely.
"It's evident that even Big Tech companies are showing interest in the financial world, and everything is entirely feasible with their capabilities. It's going to be fascinating. Many companies have the opportunity for such developments, but what will truly set them apart is who takes the initiative and delivers the best solutions to customers, especially in the evolving landscape of Open Banking regulations," Priit reflects.
Combining Different Business Models
"I enjoy juggling different business models, trying to blend them together to create surprising yet fitting combinations. Take, for instance, Spotify's streaming service playlists. Just like music platforms curate playlists based on listening habits, we could use data analysis to create personalized financial solutions. From offering loan products that customers don't yet realize they need but will eventually require, to customized repayment plans. Or, imagine pricing loan products based on a subscription model similar to Netflix. Picture the bank offering fixed monthly packages, where customers can consume all banking services as needed, without additional fees, whether it's using credit or other services. Undoubtedly, in the future, we can integrate interesting business models from other sectors with Holm's private banking products," Priit concludes with confidence.
Driven by the New Age of Customers
"Every idea must be crafted with the customer in mind. The most intriguing aspect here is the younger generation, who will become our future clients and already account for an estimated 40% of global consumption today. We all know that the worldview of Generation Z differs significantly from previous generations, and this must be taken into account. Customer service holds significant importance for them, which could evolve from reactive to proactive in the future. There's much to be done here, but what's coming up is very exciting. Holm Bank is heading towards increasingly fascinating times. I believe we can definitely catch up with today's banking market leaders and who knows, maybe even unexpectedly surpass them," Priit exudes confidence and determination to bring ambitious visions to life.
Competition Provides Motivation
"Speaking of market leaders, I greatly appreciate the strong competition in Estonia. Being competitive by nature, I appreciate having someone to compete with - it keeps the mind sharp. All market players have their own unique approaches, and some strategies are truly impressive. If we were the only bank in the Estonian market, I probably wouldn't have joined Holm," Priit acknowledges competitors, but also credits Holm for its unique stance.
Ambitious in Work and Leisure
"To unwind, I turn to motocross. I've been involved in it for several years now, actively participating in races during the season. It's one of those activities where you have to focus solely on riding because thoughts about whether I completed a task at work or sent that email don't cross your mind when you're hitting a jump at 60 km/h. This intensity clears my mind and helps me disconnect from work thoughts, allowing me to gather additional energy," Priit reveals his method for effectively switching off from work-related stress and replenishing his energy.